• Dele Alake
Four foreign companies have so far invested more than $2 billion in Nigeria’s lithium processing industry over the past two years.
The Minister of Solid Minerals Development, Dr Dele Alake, disclosed while addressing prospective investors at the Resourcing Tomorrow exhibition and conference in London.
Dr Alake said that the companies that are currently operating in the sector include Canmax Technologies, Jiuling Lithium, Avatar New Energy and Asba Group.
They have collectively invested $1.3 billion in operational lithium processing projects, moving beyond plans to active construction and production.
Given the breakdown, he said that the key projects under development include:
– A $50 million lithium plant near Abuja, the first in a network of industrial clusters spanning Nasarawa, Kogi, Kwara and Ekiti states.– A $400 million rare earth plant by Hasetins Group, expected to open in 15 months.
– A multi-billion-dollar iron-to-steel project using advanced technology also in the pipeline.
The Minister assured the investors and prospective ones of a robust investment climate in the solid minerals sector, offering seamless profit transfers and duty-free import of mining machinery.
He also highlighted government initiatives to ensure a safe and efficient mining environment, including the establishment of Mining Marshals and the use of satellite technology to monitor operations nationwide.
